Germany-based wave energy developer, SINN Power, has presented their wave energy technology during Hannover Messe 2016, taking a chance to raise capital at the event as well.
SINN Power presented itself with water tank with wave flap and a model made of colorful styrofoam balls, used to explain the wave energy converter concept.
The company presented the public with the progress made on the trials SINN Power is conducting on their wave energy converter module in Crete, Greece.
To remind, SINN Power installed the original size module at the Port of Heraklion in December 2015 with the support of the EXIST Research Transfer program of the Federal Ministry for Economic Affairs and Energy of Germany (BMWi).
Following the implementation of additional technical improvements, the module was reinstalled at the Port of Heraklion and was officially inaugurated on May 6.
To prepare the market entry with a floating test wave energy converter by the end of 2016, SINN Power specifically used the Hannover Messe to raise capital from investors and experts from the energy sector at the pitch competition ‘New ideas for the energy transition’ of the German Renewable Energy Federation (BEE).
Rike Brand , SINN Power’s Chief Marketing Officer, said: “In comparison to last year, today we can show some specific successes and have first requests from customers for our devices. We are currently looking for a site for a first commercial wave energy converter in 2017.”